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Updated 2 days ago on . Most recent reply
Renting While Investing
I wanted to get some opinions on renting while investing. I know this seems counterintuitive (as you can house hack among other things), however, as someone who lives in an area with little multifamily properties for sale (mostly duplexes) and very high property values when compared to the rest of the nation, owning a primary house hack will almost always be exponentially more per month than renting. I also feel like this will tie me down to a location that I am not sure I want to stay in.
With the capital I have, I want to use it for more active income and learn to flip houses. I do not think I want to tie up basically all of it to be stuck in a property I barely can afford in a place I'm not sure I want to stay in. I feel like it would make me "stuck."
If anyone has any advice or any alternate thought processes I would love to hear them!
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#2 Starting Out Contributor
- Flipper/Rehabber
- Pittsburgh
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#2 Starting Out Contributor
- Flipper/Rehabber
- Pittsburgh
house hacking is an equity building strategy. yes, you might pay more to house hack than to rent a cheap place, but the idea is that you're offsetting that with the rental income and building equity. you can also house hack a single family and rent rooms out to friends.
how many have you looked at? how many have you made offers on? you may need to cast a wide net. i would encourage you not to give up.